Release number 20/2010
Interim report for the three months ended 31st March, 2010
Summary: For the first three months of 2010, Affitech A/S generated a loss of
DKK 14.1 million. Revenues for the period were DKK 0.6 million. The net loss
includes a net profit of DKK 5.9 million from sales of royalty and milestone
rights deducted by DKK 4.0 million of goodwill that was connected to parts of
these rights. The Company is now in the process of revising its operating plans
for 2010 and 2011. The new financing will enable an increased R&D activity
compared to the level previously reported. The company plans to give further
information in June when the re-planning process is completed.
For more information please contact:
Affitech A/S:
Randi Krogsgaard, Corporate Communications
Tel # +45 2320 1001
About Affitech
Affitech AS is a publicly traded (NASDAQ OMX Copenhagen exchange) human
therapeutic antibody company headquartered in Copenhagen, Denmark with R&D
facilities in Oslo, Norway. The company utilizes a range of proprietary antibody
technologies for the discovery of fully human antibodies for application in
oncology, inflammation and other disease areas. CBAS™ (Cell Based Antibody
Selection) is Affitech's premier discovery engine for the isolation of lead
antibodies to cell surface molecules in situ. Several of the Company's
proprietary product candidates were generated by CBAS™. Further information is
available at www.affitech.com.
Disclaimer
This news release contains forward-looking statements and forecasts
based on uncertainty, since they relate to events and depend on circumstances
that will occur in the future and which, by their nature, will have an impact on
results of the financial condition and operations of Affitech A/S. There are
many factors that could cause actual results and developments to differ
materially from those expressed or implied by these forward-looking statements
and forecasts. These factors include, among other things, risks associated with
technological development, the risk that research & development will not yield
new products that achieve commercial success, the impact of competition, the
ability to transact viable and profitable commercial deals, the risk of
non-approval of patents not yet granted, and difficulties of obtaining relevant
governmental approvals for new products.
No expressed or implied representations or warranties are given concerning
Affitech A/S or the accuracy or completeness of the information provided herein,
and no claims shall be made by the recipient of this news release by virtue of
the information contained herein.
This is an English translation of the Group's first quarter announcement for
2010 made in Danish. In case of any discrepancies between the Danish version and
this English translation thereof, the Danish version shall prevail.
